In a 2014 interview with a Wall Street Journal Reporter, Dave Giertz of Nationwide explained why financial advisers need to discuss social security with clients. He says that most, unfortunately, don’t do this due to the complexity of the issue on SoundCloud.com. This is a mistake which does a disservice to the client and also affects the adviser’s ability to retain clients.
Making his first point, David Giertz said that a study his company commissioned showed that most people are very willing to change advisers if they can’t get answers to their social security questions. Due to this, advisers need to be proactive and address the questions about social security and when to take it or they will likely lose a lot of customers over the issue.
Dave Giertz also makes the salient point that most retirees increasingly rely on social security as a major part of their income post-retirement. For most, about 40% of what they have to spend comes from their monthly social security check according to bloomberg.com. Because it makes up such a large part of their budget it has to be addressed by the adviser in order to create a retirement financial roadmap.
In the past, David Giertz has talked about social security and how mistakes made early can drastically reduce the amount of money retirees get. People need to be advised on when to take retirement, Dave Giertz has said, because taking starting too early will reduce the amount a person receives over the rest of their lifetime.
Dave Giertz has been in the financial industry for more than 25 years. He has served as a financial adviser in the past and now has served in an executive role at a number of companies including Nationwide Financial. Giertz has served as a President in a number of the company’s subsidiaries in the financial industry.
Learn more about David Giertz: http://financial-advisors.credio.com/l/314999/David-Giertz